Question 6: The following is the year end trial balance of Birch Products Inc. All adjusting entries have already been made in the data. Using the trial balance, prepare a multi-step income statement, a statement of retained earnings and a classified balance sheet as of September 30, 2020. Be sure to provide proper headings and any other additional details that are required. Marks Available 20 Birch Products Inc. Trial Balance September 30, 2020 DR CR Cash $ 96,820 Non-strategic investments $ 35,000 Accounts Receivable $ 36,950 Allowance for Doubtful Accounts 3,825 Prepaid Expenses $ 1,800 Inventory $ 81,570 Capital assets $ 831,000 Capital assets - accumulated amortization $ 395,500 Strategic investments $ 32,000 Accounts Payable $ 31,970 Unearned revenue 18,800 Interest Payable 12,690 Wages Payable $ 18,900 Long-term Debt - See Note 3 $ 194,000 Preferred shares - See Note 1 24,000 Common shares - See Note 2 $ 5,000 Retained Earnings $ 249,615 Sales $ 995,700 Cost of goods sold 348,495 Amortization $ 58,400 Bank charges 6,345 Interest on long-term debt $ 12,800 $ 135,790 Wage Expense $ 159,640 Dividends paid $ 100,000 Loss on sale of capital assets $ 13,390 $1,950,000 $1,950,000 Other expenses Note 1: Preferred share details: $4.10, 10,000 shares authorized, 3,300 shares issued, non-cumulative, voting. Note 2: Common share details, unlimited shares authorized, 5000 shares issued. Note 3: The bookkeeper has identified that principal payments on the long-term term debt will be $3,100 per month, but they did not record this reclassification. Be sure to show this in the appropriate location in the financial statements. Note 4: Non-strategic investments are intended to be held for less than one year, while the strategic are intended to be held for greater than one year